For the purposes of this Regulation:

1. "participating Member State" shall mean a Member State which has adopted the single currency in accordance with the Treaty;

2. "national central bank" shall mean the central bank of a participating Member State;

3. "undertakings" shall mean those natural or legal persons, private or public, with the exception of public persons in the exercise of their public powers, in a participating Member State, which are the subject of obligations arising from ECB regulations and decisions, and shall include branches or other permanent establishments located in a participating Member State, the head office or registered office of which is outside a participating Member State;

4. "infringement" shall mean any failure by an undertaking to fulfil an obligation arising from ECB regulations or decisions;

5. "fine" shall mean a single amount of money which an undertaking is obliged to pay as a sanction;